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Speeding up the Low-Carbon Economy Transition Can Support Financial Institutions’ Efforts to Mitigate Climate Risk

Financial institutions’ response to climate change by mapping out their risk from physical and transition risks is important. However, the speed of changes that financial institutions can make to limit their risk is constrained not by the risk metrics they look at but how quickly economic and social changes occur. To make the most impact on decarbonisation, financial institutions have to look at both the climate risks they face and the opportunities they can gain by scaling up financing the low-carbon economy.  Regulations like Malaysia’s new policy on climate risk manageme...

Blake Goud | December 19, 2022

Speeding up the Low-Carbon Economy Transition Can Support Financial Institutions’ Efforts to Mitigate Climate Risk

Speeding up the Low-Carbon Economy Transition Can Support Financial Institutions’ Efforts to Mitigate Climate Risk

Financial institutions’ response to climate change by mapping out their risk from physical and transition risks is important. However, the speed of changes that financial institutions can make to limit their risk is constrained not by the risk metrics they look at but how quickly economic and social changes occur. To make the most impact on decarbonisation, financial institutions have to look at both the climate risks they face and the opportunities they can gain by scaling up financing the low-carbon economy.  Regulations like Malaysia’s new policy on climate risk manageme...

Blake Goud | December 19, 2022

Emirates REIT Refinances Existing Sukuk Offering with New USD 380 Million Issuance 

Dubai-based Emirates REIT has announced the closure of a Sukuk issuance worth USD 380 million to refinance USD 400 million existing Sukuk it had offered in 2017. Why it Matters?  The Sukuk offered by Emirates REIT in 2017 was rescinded in June 2021, for holders to swap their notes for new paper after the entity failed to secure the necessary investor backing. The consent solicitation saw the participation of over 88% of existing certificate holders as votes in support of the proposed refinancing totalled 99%. Among the features of the new Sukuk, proposed last month, are a se...

IM Insights | December 16, 2022

Emirates REIT Refinances Existing Sukuk Offering with New USD 380 Million Issuance 

Emirates REIT Refinances Existing Sukuk Offering with New USD 380 Million Issuance 

Dubai-based Emirates REIT has announced the closure of a Sukuk issuance worth USD 380 million to refinance USD 400 million existing Sukuk it had offered in 2017. Why it Matters?  The Sukuk offered by Emirates REIT in 2017 was rescinded in June 2021, for holders to swap their notes for new paper after the entity failed to secure the necessary investor backing. The consent solicitation saw the participation of over 88% of existing certificate holders as votes in support of the proposed refinancing totalled 99%. Among the features of the new Sukuk, proposed last month, are a se...

IM Insights | December 16, 2022

Value of Shariah-Compliant Products in Nigerian Capital Market to Reach NGN 5 Trillion by 2025 

Nigeria is anticipating the listing of 50 Shariah-compliant products with a market value of NGN 5 trillion (USD 2.2 billion) between now and 2025, as per a statement made by Lamido Yuguda, the Director General of the Securities and Exchange Commission (SEC), on the 7th of December 2022. Why it Matters? The current expectations are consistent with the newly released, revised edition of the SEC's Capital Market Masterplan (2021-2025). According to Yuguda, the non-interest capital market (NICM) has enormous potential in the nation since it can draw in untapped individuals who seem unint...

IM Insights | December 15, 2022

Value of Shariah-Compliant Products in Nigerian Capital Market to Reach NGN 5 Trillion by 2025 

Value of Shariah-Compliant Products in Nigerian Capital Market to Reach NGN 5 Trillion by 2025 

Nigeria is anticipating the listing of 50 Shariah-compliant products with a market value of NGN 5 trillion (USD 2.2 billion) between now and 2025, as per a statement made by Lamido Yuguda, the Director General of the Securities and Exchange Commission (SEC), on the 7th of December 2022. Why it Matters? The current expectations are consistent with the newly released, revised edition of the SEC's Capital Market Masterplan (2021-2025). According to Yuguda, the non-interest capital market (NICM) has enormous potential in the nation since it can draw in untapped individuals who seem unint...

IM Insights | December 15, 2022

Growth Anticipated in Market Share of Europe, the Middle East and Africa Islamic Banks with a Neutral Outlook for 2023: Fitch 

A neutral 2023 sector outlook has been assigned for Europe, the Middle East and Africa (EMEA) Islamic banks by Fitch Ratings (Fitch) as profitability is expected to increase and liquidity to remain strong, while capital buffers are anticipated to remain adequate for the risks and asset quality is to remain stable. Additionally, credit growth will keep outpacing that of conventional banks. Why it Matters? The outlook reflects healthy economic circumstances in the major Islamic markets in EMEA, according to Fitch. Islamic banks in the EMEA region have a generally low market share o...

IM Insights | December 14, 2022

Growth Anticipated in Market Share of Europe, the Middle East and Africa Islamic Banks with a Neutral Outlook for 2023: Fitch 

Growth Anticipated in Market Share of Europe, the Middle East and Africa Islamic Banks with a Neutral Outlook for 2023: Fitch 

A neutral 2023 sector outlook has been assigned for Europe, the Middle East and Africa (EMEA) Islamic banks by Fitch Ratings (Fitch) as profitability is expected to increase and liquidity to remain strong, while capital buffers are anticipated to remain adequate for the risks and asset quality is to remain stable. Additionally, credit growth will keep outpacing that of conventional banks. Why it Matters? The outlook reflects healthy economic circumstances in the major Islamic markets in EMEA, according to Fitch. Islamic banks in the EMEA region have a generally low market share o...

IM Insights | December 14, 2022

Nigeria's Moove Makes Debut Sukuk Offering Worth USD 30 Million via Private Placement 

Nigeria-based Moove announced plans to raise USD 30 million through a debut Sukuk (Sukuk al-Istisna) offering made via private placement, as per a statement on the 8th of December 2022. Why it Matters? The funds will be used by Moove to expand to 2,000 Electric Vehicles (EV) in the United Arab Emirates (UAE) over the upcoming year. It is anticipated that this fleet of EVs will help cities like Dubai achieve their Net Zero goals by reducing carbon dioxide emissions by over 5,000 metric tonnes annually. According to Mohieddine (Dino) Kronfol, Chief Investment Officer of Global...

IM Insights | December 13, 2022

Nigeria's Moove Makes Debut Sukuk Offering Worth USD 30 Million via Private Placement 

Nigeria's Moove Makes Debut Sukuk Offering Worth USD 30 Million via Private Placement 

Nigeria-based Moove announced plans to raise USD 30 million through a debut Sukuk (Sukuk al-Istisna) offering made via private placement, as per a statement on the 8th of December 2022. Why it Matters? The funds will be used by Moove to expand to 2,000 Electric Vehicles (EV) in the United Arab Emirates (UAE) over the upcoming year. It is anticipated that this fleet of EVs will help cities like Dubai achieve their Net Zero goals by reducing carbon dioxide emissions by over 5,000 metric tonnes annually. According to Mohieddine (Dino) Kronfol, Chief Investment Officer of Global...

IM Insights | December 13, 2022

Securities Commission Malaysia Issues New Consolidated Guidelines on Islamic Capital Market Products and Services 

New guidelines on Islamic Capital Market Products and Services (ICMPS Guidelines) have been issued by the Securities Commission of Malaysia (SC), and they will serve as the primary source of reference for all the different offerings of Islamic Capital Market (ICM) products and services for both sophisticated and retail investors, as per a statement on the 28th of November 2022. Why it Matters?  The ICMPS Guidelines go into effect on the 28th of November 2022 and consolidate, in one comprehensive central document, all Shariah requirements and principles that were previou...

IM Insights | December 12, 2022

Securities Commission Malaysia Issues New Consolidated Guidelines on Islamic Capital Market Products and Services 

Securities Commission Malaysia Issues New Consolidated Guidelines on Islamic Capital Market Products and Services 

New guidelines on Islamic Capital Market Products and Services (ICMPS Guidelines) have been issued by the Securities Commission of Malaysia (SC), and they will serve as the primary source of reference for all the different offerings of Islamic Capital Market (ICM) products and services for both sophisticated and retail investors, as per a statement on the 28th of November 2022. Why it Matters?  The ICMPS Guidelines go into effect on the 28th of November 2022 and consolidate, in one comprehensive central document, all Shariah requirements and principles that were previou...

IM Insights | December 12, 2022

Nature Loss Cannot Be Addressed Within an Economic Model Where Benefits and Burdens Are Not Shared Equitably

Carbon emissions mitigation to address climate change is a simpler problem to tackle than nature loss, and the struggle to create ‘first-best’ economic incentives is not over. With nature loss, the problem is spread out further through supply chains and requires more of a systems approach to align incentives at the front lines of nature loss, which can’t succeed without sharing the benefits as well as the burdens.  Climate change is often viewed as having one missing ‘price’, but in practice that solution has eluded our best attempts to find a ‘first...

Blake Goud | December 12, 2022

Nature Loss Cannot Be Addressed Within an Economic Model Where Benefits and Burdens Are Not Shared Equitably

Nature Loss Cannot Be Addressed Within an Economic Model Where Benefits and Burdens Are Not Shared Equitably

Carbon emissions mitigation to address climate change is a simpler problem to tackle than nature loss, and the struggle to create ‘first-best’ economic incentives is not over. With nature loss, the problem is spread out further through supply chains and requires more of a systems approach to align incentives at the front lines of nature loss, which can’t succeed without sharing the benefits as well as the burdens.  Climate change is often viewed as having one missing ‘price’, but in practice that solution has eluded our best attempts to find a ‘first...

Blake Goud | December 12, 2022

Al Rajhi Bank Malaysia Announces Official Launch of Its Digital Bank: Rize  

Al Rajhi Bank Malaysia (ARBM) has announced the official launch of its digital bank arm Rize, offering a wide range of the entity's existing services along with additional products which will be made available gradually, as per a statement made on the 1st of December 2022. Why it Matters? Services provided by Rize will include deposits, withdrawals, and transfers, account and personal finance management, debit cards application, purchase, and maintenance, ATM services, e-statements, and tailored personal financing. Rize is currently aimed toward retail consumers, but the small a...

IM Insights | December 09, 2022

Al Rajhi Bank Malaysia Announces Official Launch of Its Digital Bank: Rize  

Al Rajhi Bank Malaysia Announces Official Launch of Its Digital Bank: Rize  

Al Rajhi Bank Malaysia (ARBM) has announced the official launch of its digital bank arm Rize, offering a wide range of the entity's existing services along with additional products which will be made available gradually, as per a statement made on the 1st of December 2022. Why it Matters? Services provided by Rize will include deposits, withdrawals, and transfers, account and personal finance management, debit cards application, purchase, and maintenance, ATM services, e-statements, and tailored personal financing. Rize is currently aimed toward retail consumers, but the small a...

IM Insights | December 09, 2022

The Green Economy and Cost of Funding

Government agencies and the private sector are working in full swing to consider the funding mechanisms available to support the Saudi Green Initiative.The first package to develop the green economy was launched, which consists of investments of more than SAR 700 billion (USD 186.41 billion), and several goals were set for protecting the environment and facing climate challenges.This column discusses the financing options available to those involved in implementing these green initiatives. In addition to direct investment from the private sector and self-financing from government agen...

Mohammed KHNIFER | December 09, 2022

The Green Economy and Cost of Funding

The Green Economy and Cost of Funding

Government agencies and the private sector are working in full swing to consider the funding mechanisms available to support the Saudi Green Initiative.The first package to develop the green economy was launched, which consists of investments of more than SAR 700 billion (USD 186.41 billion), and several goals were set for protecting the environment and facing climate challenges.This column discusses the financing options available to those involved in implementing these green initiatives. In addition to direct investment from the private sector and self-financing from government agen...

Mohammed KHNIFER | December 09, 2022

The Shaping of a New Industry: Emerging Themes in Ethical Investment Today 

Ethical considerations are becoming an increasingly important and mainstream part of the financial markets, as more and more stakeholders are eager to engage in causes that have a positive impact on society or the environment, such as sustainable agriculture, renewable energy, and climate action.  The following are a few of ethical investment trends emerging: Increased Awareness and Interest in Ethical Investing: Over the past few years, there has been a growing awareness and interest in ethical investing, as more and more people are looking for ways to align their investments wi...

IM Insights | December 08, 2022

The Shaping of a New Industry: Emerging Themes in Ethical Investment Today 

The Shaping of a New Industry: Emerging Themes in Ethical Investment Today 

Ethical considerations are becoming an increasingly important and mainstream part of the financial markets, as more and more stakeholders are eager to engage in causes that have a positive impact on society or the environment, such as sustainable agriculture, renewable energy, and climate action.  The following are a few of ethical investment trends emerging: Increased Awareness and Interest in Ethical Investing: Over the past few years, there has been a growing awareness and interest in ethical investing, as more and more people are looking for ways to align their investments wi...

IM Insights | December 08, 2022

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